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Annual General Meeting27 April 2017

PACC Offshore Services Holdings Ltd.

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Agenda

1. Year In Review

2. Financial Highlights

3. Business Outlook and Strategy

4. Appendices

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YEAR IN REVIEW

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POSH stands apart: Resilient performance amid challenges

• Persistent challenges in offshore marine services industry• Oil prices remained low as supply continued to outstrip demand• Further reduction in oil and gas capital expenditure

• Continued to achieve operational milestones and drive efficiency• Focus on operational excellence continued to bear fruit with landmark

charter wins • 3rd straight year of cost rationalisation

• Maintained strong balance sheet and financial position• Operational resilience underpinned positive cash flow and EBITDA in 2016• Robust capital structure

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• Oil price remained low compared to pre-2014 • Sentiments remained cautious despite OPEC’s

announced cuts

Brent Crude Prices

• Further reduction in oil and gas capital expenditure

• Adversely affected utilisation and charter rates

Global Oil & Gas Capital Expenditure BMI Research

2016: Challenging year for the offshore marine industry

g = Guidance and BMI estimate

600

400

200

0

2015 2016g

Flexible CapexLatin America FocusedAsia Focused

Middle East (est)North America Focused

Europe, Africa & OtherRussian FocusedMajors

USDUSD bil

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Operational excellence is our key differentiating factor

Our major milestones across our four business divisions

Highlights

• Secured long-term charters for 12 vessels in the Kingdom of Saudi Arabia following setting up of POSH Saudi JV

• Secured a five-year charter with a repeat customer for POSH Radiant in Qatar

Offshore Supply Vessel

(“OSV”)

Division

• One-year contract extension for POSH Xanadu to support Petrobras• POSH Arcadia appointed to provide accommodation support for the

hook up and commissioning of the Shell Prelude Floating Liquefied Natural Gas (“FLNG”) – world’s largest offshore facility

• Deepwater T&I joint venture POSH Teresea successfully delivered the Petronas FLNG Satu – world’s first FLNG vessel

• Commended by BP for rigorous operational standards when towing the Glen Lyon

• Secured long term towage contracts from tanker companies and projects arising from the development of the Singapore port

Offshore Accommodation

(“OA”)

Transportation & Installation

(“T&I”)

Harbour Services & Emergency

Response (“HSER”)

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FINANCIAL HIGHLIGHTS

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Resilient financial performance in FY2016

SUMMARY

US$000 FY16 FY15 Change

Revenue 183,100 280,820 -35%

Depreciation (69,092) (60,261) 15%

Other cost of sales (109,023) (162,533) -33%

Gross profit 4,985 58,026 -91%

Impairment of fixed assets (198,950) (21,437) 828%

Impairment of goodwill (111,179) (127,000) -12%

Share of JV results (13,814) (9,526) 45%

Net loss after tax1 (371,448) (130,959) 184%

Net (loss)/profit excluding impairment of goodwill and fixed assets1 (61,319) 17,478 NM

EBITDA 23,886 90,393 -74%

1: Attributable to shareholders

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1: Equity attributable to shareholders of the Company

• The Group has a net current liability of US$206.8 million mainly due to bank borrowings due within a year.

• The Group has undrawn bank lines of approximately US$282.9 million as at 31 December 2016.

• Increase in Net Debt/Equity was due to non-cash impairments of US$310.1 million in FY16, which reduced the Group’s equity.

Robust capital management

US$000 31 Dec 2016 31 Dec 2015

Net Debt 693,274 545,951

Equity1 688,332 1,061,043

Net Debt/Equity 101% 51%

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BUSINESS OUTLOOK AND STRATEGY

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Long term: Oil and gas remain as dominant energy sources

• Oil and gas will stay as main sources of energy accounting for more than half of the world’s total energy supplies

• This is despite growth in alternative sources of energy

• Points to the offshore marine services industry staying relevant in the long run

Energy Consumption by FuelBP

*Renewables include wind, solar, geothermal, biomass and biofuels

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2017 outlook: Cautious optimism over prospects for recovery

Oil Price Forecast US Energy Information Administration, Wall Street Journal

• Broad consensus in the market for oil price to stay within the US$50-60 band for 2017

2014 Annual Average

2015 Annual Average

2016 Annual Average

2017 EIA Forecasts

2017 Major Banks’ Forecasts

USD

100

80

60

40

20

Capital Expenditure for Major Oil CompaniesOil & Gas Journal

• Several oil companies indicated slight increase in capital expenditure for 2017

30

25

20

15

10

5

0

USD bil

2016 2017 2017 range

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Our four strategic areas of focus

• Uncompromising commitment to uphold operational and safety standards • Continue to invest in talent development

Drive Operational Excellence

• Prudent capital management backed by our strong balance sheet• Pursue charters that generate positive cash flow and EBITDA

• Continue to reduce operating expenses across operations• Optimise resource allocation to capture opportunities for long-term growth

Maintain Financial

Resilience

Continue Cost Efficiency and Optimisation

2017 focus: Navigate uncertainty and emerge stronger

• Establish and expand offices and presence in key international markets • Re-profile and optimise asset portfolio

Pursue Selective

Pockets of Growth

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We will successfully execute milestone projects in 2017

2017 focus: Reinforce reputation as best-in-class operator

• Two contracts for world’s largest offshore facility

• Prelude is bigger than the size of four football fields

• Towing from South Korea to Australia and positioning

• Accommodation support for hook up and commissioning

• To execute towing and installation contracts for:

1. INPEX Floating Production, Storage and Offloading (“FPSO”) unit, and

2. INPEX Icthys Central Processing Facility (“CPF”) –world’s largest semi-submersible platform

INPEX Projects Shell Prelude

• 12 long-term charters with an oil major in Saudi Arabia

• Includes 10 specially commissioned newbuilds to be delivered progressively over 2017

Saudi Arabia

Photo credits: Technip

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2017 and beyond: Operating from position of strength

One of Asia’s largest offshore operators

Global footprint and proven track record

Highly experienced management team

Strong parentage

Longstanding relationships with industry players

Poised to capture opportunities across business segments

Well-placed to generate value for you over the longer term

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THANK YOU

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Appendices

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Diverse fleet operating across the oil and gas value chain

Oil & Gas Life Cycle

Exploration & Appraisal Field

DevelopmentOperation &

MaintenanceDecommissioning

Anchor Handling Tug Supply vessels (AHTS) Tow and position drilling rigs

Platform Supply Vessels (PSV)Transport materials and supplies

Anchor Handling Tugs (AHT)Provides towage and construction support

BargesTransport large marine structures for floatover and launch of platform jackets

Harbour Services & Emergency Response (HSER)

Emergency ResponseProvides equipment and personnel for salvage, rescue and oil spill response

Crane BargesFor heavy lift services

Harbour TugsDeployed in harbour towage

Accommodation Vessels (AV)

Provides accommodation, lifting, catering, workshop, storage and heli-deck facilities.

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Mexico

Malaysia

Thailand

Myanmar

Russia

Australia

Republic of Congo Indonesia

India

Vietnam

Gabon

Saudi Arabia

New Caledonia

Egypt

AngolaBrazil

Philippines

China

Venezuela

UK

Italy

South Africa

Iran

UAE

New Zealand

Oman

Nigeria

Projects over the years

Projects in 2016

Geographically diversified operations

Brunei

JapanSouth Korea

Qatar

AzerbaijanTurkeyMalta

Libya

Poland

Norway

Scotland

Namibia

Ghana

Canada

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Fleet summary

Young fleet of customized new builds to meet customers’needs Focus on high-capacity and high-specification offshore accommodation vessels Entry into Inspection, Maintenance and Repair (IMR) segment with construction of IMR vessels

1: One ASD Harbour Tug and three MUV were subsequently delivered in Q1 2017.

Type of vesselsCurrent fleet New vessels under

construction/ committedWholly owned Owned by JVs

AHTS 13 4 6

PSV 14 - -

Maintenance Utility Vessels1 - - 4

AHT 12 9 -

Towing Tugs 4 - -

Barges 14 4 -

SSAV 2 - -

Accommodation Vessels 7 1 -

IMR/MPSV - - 3

Harbour Tugs1 10 19 1

Crane Barges - 3 -

Utility Workboats 3 - -

Total as at 31 Dec 2016 79 40 14

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Vessels to be delivered for 2017 onward

ExpectedDelivery Date

No. of Newbuilds

Q3 FY17 Q4 FY17

6 Shallow draft AHTS

OAIMR &MPSV

OSV

AHTS

POSH

Q1 FY17 Q2 FY17 Q3 FY17

1 DP2 MPSV 2 DP2 IMR

vessels

14 vessels to be delivered in FY2017 with remaining payments of ~US$85.6M

Q1 FY17 1 ASD Harbour

TugsTugHSER

Size

5,220 BHP

4,100 dwt 89 M

5,000 BHP

2,597 – 3,152 BHP

Contract

Firm 5 years plus 2 years extension

Firm 5 years plus 2 years extension

Q1 FY17 Q2 FY17

4 MUVMUV

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Disclaimer

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